FSLR · First Solar, Inc. · Financials

$174.82 +0.39 (+0.22%) At close · Oct 21

S&P 500 member Russell 1000 member Rebalance outlook locked

Market Cap

$18.75B

107.47M

Volume · Oct 21 1.49M Avg daily vol (3M) 2.29M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Pull these statements through the financial statements API or MCP →

Revenue

$5.22B +24.1%

FY2025

Net Income

$1.53B +18.3%

FY2025

Gross Margin

40.62% -3.6pp

FY2025

Operating Margin

30.59% -2.6pp

FY2025

Diluted EPS

$14.21 +18.2%

FY2025

Operating Cash Flow

$2.06B +68.9%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	FY2026 (G)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007
Revenue	+25.8%	+14.0%	+2.4%	$4.9B – $5.2B	$5.38B	$5.22B^G	$4.21B^G	$3.32B^G	$2.62B^G	$2.92B^G	$2.71B	$3.06B	$2.24B	$2.94B	$2.9B	$4.11B	$3.39B	$3.31B	$3.37B	$2.77B	$2.56B	$2.07B	$1.25B	—
Cost of Revenue	+6.7%	+8.8%	+0.4%	—	$3.01B	$3.1B	$2.35B	$2.02B	$2.55B	$2.19B	$2.03B	$2.51B	$1.85B	$2.39B	$2.27B	$2.98B	$2.57B	$2.44B	$2.52B	$1.79B	$1.38B	$1.02B	$567.91M	$252.57M
Gross Profit	+211.9%	+25.5%	+6.5%	—	$2.37B	$2.12B	$1.86B	$1.3B	$69.86M	$729.95M	$680.67M	$549.21M	$392.18M	$548.95M	$638.42M	$1.13B	$824.94M	$864.63M	$852.75M	$971.75M	$1.18B	$1.04B	$678.39M	$251.4M
Gross Margin	—	—	—	—	—	40.62%	44.17%	39.19%	2.67%	24.97%	25.1%	17.93%	17.48%	18.66%	21.98%	27.54%	24.33%	26.12%	25.32%	35.13%	46.22%	50.56%	54.43%	—
Research & Development	+27.4%	+20.0%	+6.0%	—	$269.73M	$233.42M	$191.38M	$152.31M	$112.8M	$99.12M	$93.74M	$96.61M	$84.47M	$88.57M	$124.76M	$130.59M	$143.97M	$134.3M	$132.46M	$140.52M	$94.8M	$78.16M	$33.52M	$15.11M
Selling, General & Administrative	+7.3%	-1.8%	-2.2%	—	$215.28M	$203.76M	$188.26M	$197.62M	$164.72M	$170.32M	$222.92M	$205.47M	$176.86M	$202.7M	$261.99M	$255.19M	$253.83M	$270.26M	$280.93M	$412.54M	$321.7M	$272.9M	$174.04M	$82.25M
Amortization of Intangibles	-27.8%	-17.6%	-7.8%	—	—	$4.1M	$10.5M	$10.5M	$10.9M	$10.9M	$10.8M	$10.2M	$9.9M	$8.3M	$10.1M	$9.2M	$1.2M	$900K	$2.1M	$2M	—	—	—	—
Depreciation & Amortization	+25.2%	+17.8%	+8.9%	—	$576.2M	$529.22M	$423.5M	$307.99M	$269.72M	$259.9M	$232.93M	$205.48M	$130.74M	$91.9M	$204.25M	$225.23M	$216.59M	$238.77M	$265.39M	$235.23M	$156.09M	$129.63M	$59.52M	—
Restructuring Charges	—	—	—	—	—	—	—	—	—	—	—	$0	$0	$37.18M	$743.86M	$0	$0	$86.9M	$469.1M	$60.37M	$0	$0	—	—
Total Operating Expenses	+14.3%	+7.6%	+2.7%	—	$557.52M	$523.48M	$464.56M	$450.3M	$350.61M	$290.49M	$363.18M	$711M	$352.06M	$371.1M	$1.21B	$402.6M	$402.94M	$494.23M	$890.31M	$1.04B	$435.94M	$364.97M	$240.05M	$114.22M
Operating Income	—	+38.1%	+8.1%	—	$1.81B	$1.6B	$1.39B	$857.27M	-$27.24M	$586.75M	$317.49M	-$161.79M	$40.11M	$177.85M	-$568.15M	$730.16M	$422M	$370.41M	-$37.56M	-$68.66M	$748.9M	$679.62M	$438.34M	$137.18M
Operating Margin	—	—	—	—	—	30.59%	33.15%	25.83%	-1.04%	20.07%	11.71%	-5.28%	1.79%	6.05%	-19.56%	17.75%	12.44%	11.19%	-1.12%	-2.48%	29.21%	32.89%	35.17%	—
EBITDA	+106.2%	+31.0%	+8.3%	—	$2.39B	$2.13B	$1.82B	$1.17B	$242.49M	$846.65M	$550.41M	$43.69M	$170.85M	$269.75M	-$363.9M	$955.39M	$638.59M	$609.18M	$227.83M	$166.57M	$905M	$809.24M	$497.86M	—
Interest Expense	+53.4%	+12.9%	+20.3%	—	$38.6M	$44.13M	$38.87M	$12.97M	$12.23M	$13.11M	$24.04M	$27.07M	$25.92M	$25.77M	$20.54M	$6.98M	$1.98M	$1.88M	$13.89M	$100K	$6000	$5.26M	$509K	$2.29M
Interest Income	-12.0%	-1.4%	+10.0%	—	$56.78M	—	—	—	$33.28M	$6.18M	$16.56M	$48.89M	$59.79M	$35.7M	$25.19M	$22.52M	$18.03M	$16.75M	$12.82M	$13.39M	$14.38M	$9.74M	$21.16M	$20.41M
Other Non-Operating Income	—	—	—	—	-$14.98M	-$15.01M	-$13.33M	-$29.15M	$31.19M	$314K	-$11.93M	$17.55M	$39.74M	$23.97M	$40.25M	-$5.5M	-$4.49M	-$5.19M	$945K	$665K	$2.27M	-$2.99M	-$934K	-$1.22M
Equity in Earnings of Unconsolidated Entities	—	—	—	—	—	—	—	—	$0	$0	-$2.13M	-$284K	$34.62M	$4.27M	$144.31M	-$107.6M	-$4.95M	-$163K	$0	—	—	—	—	—
Pretax Income	+468.6%	+40.1%	+8.0%	—	$1.83B	$1.58B	$1.41B	$891.29M	$8.6M	$572.16M	$293.19M	-$120.13M	$113.15M	$202.12M	-$537.25M	$733.33M	$432.1M	$380.98M	-$39.8M	-$53.71M	$762.08M	$686.31M	$463.78M	$155.96M
Income Tax	-0.1%	—	+5.0%	—	$79.38M	$52.68M	$114.29M	$60.51M	$52.76M	$103.47M	-$107.29M	-$5.48M	$3.44M	$372M	$23.17M	$32.33M	$31.19M	$30.1M	$56.53M	-$14.22M	$97.88M	$46.18M	$115.45M	-$2.39M
Net Income	—	+30.9%	+9.9%	—	$1.75B	$1.53B	$1.29B	$830.78M	-$44.17M	$468.69M	$398.36M	-$114.93M	$144.33M	-$165.62M	-$416.11M	$593.41M	$395.96M	$350.72M	-$96.34M	-$39.49M	$664.2M	$640.14M	$348.33M	$158.35M
Net Margin	—	—	—	—	—	29.28%	30.72%	25.03%	-1.69%	16.03%	14.69%	-3.75%	6.43%	-5.63%	-14.33%	14.43%	11.68%	10.6%	-2.86%	-1.43%	25.91%	30.98%	27.95%	—
Comprehensive Income	—	+30.2%	+10.8%	—	$1.75B	$1.56B	$1.28B	$848.46M	-$139.62M	$434.06M	$415.96M	-$139.8M	$87.6M	-$153.45M	-$441.5M	$558.75M	$471.88M	$314.76M	-$81.12M	-$17.29M	$646.55M	$654.96M	$319.39M	$161.85M
EPS (Basic) USD/shares	—	+30.5%	+9.3%	—	$16.26	$14.25	$12.07	$7.78	-$0.41	$4.41	$3.76	-$1.09	$1.38	-$1.59	-$4.05	$5.88	$3.96	$3.74	-$1.11	-$0.46	$7.82	$7.67	$4.34	$2.12
EPS (Diluted) USD/shares	—	+30.7%	+9.3%	—	$16.22	$14.21^G	$12.02^G	$7.74^G	-$0.41^G	$4.38^G	$3.73^G	-$1.09	$1.36	-$1.59	-$4.05	$5.83	$3.90	$3.67	-$1.11	-$0.46	$7.68	$7.53	$4.24	$2.03
Shares Outstanding (Basic Avg) shares	+0.2%	+0.3%	+0.6%	—	—	107.24M	107.02M	106.8M	106.55M	106.26M	105.87M	105.31M	104.75M	104.33M	102.87M	100.89M	100.05M	93.7M	86.86M	86.07M	84.89M	83.5M	80.18M	74.7M
Shares Outstanding (Diluted Avg) shares	+0.3%	+0.2%	+0.5%	—	—	107.54M	107.53M	107.37M	106.55M	106.92M	106.69M	105.31M	106.11M	104.33M	102.87M	101.82M	101.64M	95.47M	86.86M	86.07M	86.49M	85.04M	82.12M	77.97M

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Debt Profile

Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.

Reported debt balances

Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.

Reported balance	As of	Amount	Source
Current debt and lease obligations	2026-06-30	USD 37,635,000	10-Q filed 2026-07-30
Finance lease liabilities	2026-06-30	USD 36,866,000	10-Q filed 2026-07-30
Related accounting measures — not additional borrowing Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year. Current finance lease liabilities USD 2,965,000 Noncurrent finance lease liabilities USD 33,901,000
Noncurrent debt carrying amount	2026-06-30	USD 0	10-Q filed 2026-07-30
Operating lease liabilities	2026-06-30	USD 119,509,000	10-Q filed 2026-07-30
Related accounting measures — not additional borrowing Carrying amounts can reflect issuance costs or discounts. Differences between these measures are not necessarily repayments due within a year. Current operating lease liabilities USD 11,405,000 Noncurrent operating lease liabilities USD 108,104,000

Instrument and agreement coverage is incomplete. Additional filings are awaiting review.

Covenants

Covenant terms have not yet been verified for this profile.

The balance figures do not establish whether covenants apply or whether the company complies with them.

Loans, facilities and notes

The instrument breakdown is not yet verified. Read the debt note in the linked report for borrowing terms and maturity conditions.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

3.18×

Solar median 1.12×

EV/EBIT

9.45×

Solar median 26.42×

P/E (TTM)

10.75×

Solar median 20.42×

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Modules Segment	$4,202,733,000	$3,296,809,000	$2,428,278,000	$2,331,380,000	$1,736,060,000	$1,460,116,000	$502,001,000	$806,398,000
Other	$3,556,000	$21,793,000	$191,041,000	$591,997,000	$975,272,000	$1,603,001,000	$1,742,043,000	$2,134,926,000

By Geography (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
United States	$4,994,679,000	$3,904,844,000	$3,187,603,000	$2,193,619,000	$2,456,597,000	$1,843,433,000	$2,659,940,000	$1,478,034,000
India	$195,584,000	$201,714,000	$10,869,000	$37,215,000	—	$33,848,000	$7,451,000	$232,130,000
All Other Foreign Countries	$22,810,000	$65,361,000	$51,828,000	$147,550,000	$105,584,000	$96,562,000	$128,405,000	$111,716,000
France	$6,303,000	$34,370,000	$68,302,000	$67,656,000	$121,537,000	$127,097,000	$88,816,000	$28,796,000
Australia	—	—	—	—	—	—	$138,327,000	$153,163,000
Canada	—	—	—	—	—	$118,865,000	$5,944,000	$5,391,000
Chile	—	—	—	$173,279,000	$32,050,000	$21,870,000	—	—
Japan	—	—	—	—	$207,609,000	$469,657,000	$34,234,000	$234,814,000

By Product & Service (USD)

Component	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Solar Module	$3,296,809,000	$2,428,278,000	$2,331,380,000	$1,736,060,000	$1,460,116,000	$502,001,000	$806,398,000
Solar Power Systems Sales of	$19,951,000	$153,290,000	$513,362,000	$794,797,000	$1,148,856,000	$1,244,175,000	$1,927,122,000
Operations and Maintenance	$1,861,000	$11,995,000	$43,060,000	$115,590,000	$107,705,000	$103,186,000	$101,024,000
EPC Services	$0	$0	-$2,039,000	$2,937,000	$291,901,000	$347,560,000	$45,525,000
Energy Generation	-$19,000	$25,756,000	$37,614,000	$61,948,000	$54,539,000	$47,122,000	$58,019,000
Module Plus	—	—	—	—	—	—	$3,236,000

Key facts CIK 1274494 CUSIP 336433107 13F (30d) 179 filings 153 filers Visit website Investor relations